NEWARK, NY -- IEC Electronics, an EMS firm traded over the counter, reported a first-quarter net loss of $48,000 on revenue of $3.6 million.

For the quarter ended Dec. 30, earnings were down 158% from a year ago, and sales fell 42%. The company cited last minute customer changes and technical isues for the downturn.


In a statement chairman and CEO W. Barry Gilbert said two customers delayed scheduled December month-end shipments which otherwise would have resulted in revenues of $4.4 million and boosted earnings into the black.

In the past 12 months IEC has added nine companies to its customer list, three in the past quarter.

Gilbert guided for a sequential quarter sales increase of more than 50%.